Operating in eight states, AGEL has developed a diverse portfolio, including 400 MW in solar installations and a ₹700 crore Flue Gas Desulfurization (FGD) project nearing completion to help reduce emissions in power generation. With this range of initiatives, AGEL seeks to align with India's clean energy target of 500 GW by 2030.
Apollo Green Energy Limited (AGEL), part of Apollo International Group, is aiming to expand its renewable energy portfolio to ₹10,000 crore by 2025. Currently managing an order book of ₹3,500 crore, AGEL has ₹2,500 crore in ongoing solar projects spread across multiple states. The company plans to go public in 2025 to fund its expansion and support new projects.
Operating in eight states, AGEL has developed a diverse portfolio, including 400 MW in solar installations and a ₹700 crore Flue Gas Desulfurization (FGD) project nearing completion to help reduce emissions in power generation. With this range of initiatives, AGEL seeks to align with India's clean energy target of 500 GW by 2030.
Revenue at AGEL rose sharply from ₹324.83 crore in FY22 to ₹1,174.77 crore in FY24, driven by the company’s focus on solar, green hydrogen, and hybrid power solutions. CEO Sanjay Gupta highlighted the company's commitment, saying, “With over 200 professionals and an order book of ₹3,500 crore, we aim to deliver projects that meet India’s energy needs and promote sustainability. Our IPO in 2025 will enable us to scale operations and invest in cutting-edge renewable technologies.”
AGEL is currently executing major projects, including a 40 MW fixed tilt solar project in Odisha, a 50 MW floating solar project in Kerala, and a 200 MW solar tracker installation in Gujarat. The company is also setting up 1,50,000 smart solar street lights in Bihar, with further plans to expand into wind, hybrid, green hydrogen, and battery storage.
As part of its growth strategy, AGEL is forming partnerships with technology providers and evaluating options for in-house solar module production, aiming to reduce costs and strengthen its role in India's renewable energy transition.